Mohammad Faiz Azmi, Global Leader of PwC’s Global Islamic Finance Team reports that Shariah law, which prevents complex credit trading, was the life jacket for the Islamic banking sector during the global financial crisis. Despite weathering the storm, those institutions face their own challenges, ranging from real estate risk to operational, liquidity, fiduciary and reputational risk.
However he says that: “By seizing the opportunity, Islamic Banks can also reap the rewards of further growth while times are good.”………………………………………Full Article: Source